SCYNEXIS Announces One-for-Eight Reverse Stock Split
JERSEY CITY, N.J., May 22, 2026 (GLOBE NEWSWIRE) -- SCYNEXIS, Inc. (NASDAQ:SCYX) ("SCYNEXIS"), a clinical-stage biotechnology company dedicated to advancing innovative solutions for severe rare diseases, today announced that it will effect a reverse stock split of its issued and outstanding common stock, at a ratio of 1-for-8, effective at 4:05 p.m. ET on May 29, 2026.
SCYNEXIS's common stock will begin trading on the Nasdaq Capital Market on a split-adjusted basis commencing upon market open on June 1, 2026 under SCYNEXIS's existing trading symbol "SCYX" with a new CUSIP number, 811292 309.
The reverse stock split was approved by SCYNEXIS's stockholders at SCYNEXIS's Special Meeting held on May 19, 2026, with the final ratio subsequently determined by SCYNEXIS' Board of Directors. The reverse stock split is intended to bring SCYNEXIS into compliance with the minimum bid price requirement for continued listing on the Nasdaq Capital Market.
At the effective time of the reverse stock split, every 8 shares of SCYNEXIS's issued and outstanding common stock will be automatically combined and converted into one issued and outstanding share of common stock, and the authorized shares of SCYNEXIS's common stock will be reduced from 150 million to 18.75 million shares, without any change in par value per share. The reverse stock split will reduce the number of issued and outstanding shares of common stock from approximately 79.5 million shares to approximately 9.9 million shares. The reverse stock split reduces the number of shares of common stock issuable upon the exercise or vesting of SCYNEXIS's outstanding stock options, restricted stock units and warrants in proportion to the ratio of the reverse stock split and causes a proportionate increase in the exercise prices of such stock options and warrants, in accordance with their respective terms and as described in SCYNEXIS's proxy statement for its Special Meeting of Stockholders as filed with the Securities and Exchange Commission on April 27, 2026 (the "Proxy Statement").
No fractional shares of common stock will be issued as a result of the reverse stock split. Stockholders of record who would otherwise be entitled to receive a fractional share will receive a cash payment in lieu thereof. The reverse stock split impacts all holders of SCYNEXIS's common stock proportionally and will not impact any stockholder's percentage ownership of common stock (except to the extent the reverse stock split results in any stockholder owing only a fractional share).
SCYNEXIS has chosen its transfer agent, Equiniti Trust Company, LLC (the "Transfer Agent"), to act as exchange agent for the reverse stock split. Stockholders owning shares via a bank, broker or other nominee will have their positions automatically adjusted to reflect the reverse stock split and will not be required to take further action in connection with the reverse stock split, subject to brokers' particular processes.
Additional information regarding the reverse stock split can be found in the Proxy Statement.
About SCYNEXIS
SCYNEXIS, Inc. (NASDAQ:SCYX) is a clinical stage biotechnology company dedicated to advancing innovative solutions for severe rare diseases. SCY-770 is being developed for the treatment of Autosomal Dominant Polycystic Kidney Disease (ADPKD) and has been granted Orphan Drug designation. SCYNEXIS's proprietary antifungal platform "fungerps" includes BREXAFEMME® (ibrexafungerp tablets), the first approved representative of this novel class, which has been licensed to GSK, and SCY-247, currently in clinical stages of development. For more information, visit www.scynexis.com.
Forward-Looking Statements
Statements contained in this press release regarding expected future events or results are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including but not limited to statements regarding: the anticipated initiation of the SCY-770 Phase 2 study in Q4 of 2026 and the anticipated early efficacy readout in the second half of 2027, the plans to report topline data from the Phase 1 IV trial of SCY-247 in the second half of 2026 and the statements concerning expected extension of the company's cash runway to the middle of 2029, and other statements identified by words such as "will," "potential," "could," "can," "believe," "intends," "continue," "plans," "expects," "anticipates," "estimates," "may," other words of similar meaning or the use of future dates. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, risks inherent in regulatory and other costs in developing products. For the Company, this includes the future prospects of the Company's SCY-770 program, the timing and results of the Company's anticipated Phase 2 proof-of-concept clinical study evaluating SCY-770, stock price volatility and uncertainties relating to the financial markets, the medical community and the global economy, and the impact of instability in general business and economic conditions, including changes in inflation and interest rates. These and other risks are described more fully in the Company's filings with the Securities and Exchange Commission (the "SEC"), including without limitation, its most recent Annual Report on Form 10-K filed on March 4, 2026, including under the caption "Risk Factors," and in other filings the Company makes with the SEC from time to time. All forward-looking statements contained in this press release speak only as of the date on which they were made. The Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.
CONTACT:
Investor Relations
John Fraunces
LifeSci Advisors
Tel: 917-355-2395
jfraunces@lifesciadvisors.com
